SINGAPORE: The average room rate for hotels in Singapore was recorded at $282.26 for August, marking a slight decrease of 0.1% compared to the same month last year.
According to data released by the Singapore Tourism Board, the decline comes despite a month-on-month increase of 1.7%.
In contrast, luxury hotels saw a significant boost, with an impressive 6.7% increase in their average room rates compared to the previous year. Revenue per Available Room , a key performance metric in the hospitality industry, showed a year-on-year increase of 1.5%, reaching $247.56.However, a slight monthly decline of 0.5% indicates that while the overall revenue has improved year-on-year, the recent month has seen some softness in performance.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Over 60% of Singapore workers are experiencing burnout, according to new surveyOver 60% of Singapore workers are experiencing burnout, according to new survey » Home News » Singapore News
Read more »
Singapore stocks open lower on Thursday—STI falls by 0.3% Singapore News%
Read more »
Singapore stocks fell again on Friday’s open—STI dropped 0.1% Singapore News%
Read more »
Wealth management platform listed as most attractive startup for Singapore jobseekers Singapore News -%
Read more »
Life sciences ranked as top sector for job seekers in Singapore Singapore News%
Read more »
Singapore stocks declined on Wednesday—STI fell by 0.4% Singapore News%
Read more »